Huntington National Bank Decreases Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

Huntington National Bank lessened its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 44.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,929 shares of the company’s stock after selling 3,927 shares during the quarter. Huntington National Bank’s holdings in SoFi Technologies were worth $76,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Skandinaviska Enskilda Banken AB publ bought a new stake in SoFi Technologies in the fourth quarter worth $27,000. Hollencrest Capital Management purchased a new stake in shares of SoFi Technologies during the 4th quarter valued at about $31,000. FNY Investment Advisers LLC lifted its holdings in shares of SoFi Technologies by 727.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after acquiring an additional 1,905 shares during the last quarter. IAG Wealth Partners LLC purchased a new position in SoFi Technologies in the fourth quarter worth about $38,000. Finally, Nomura Asset Management Co. Ltd. increased its stake in SoFi Technologies by 33.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 4,400 shares of the company’s stock worth $68,000 after acquiring an additional 1,100 shares during the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Stock Performance

SOFI stock opened at $9.57 on Monday. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $18.42. The business has a 50-day moving average price of $13.78 and a 200 day moving average price of $13.37. The company has a market capitalization of $10.49 billion, a P/E ratio of 25.86, a PEG ratio of 2.24 and a beta of 1.86. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same period in the previous year, the firm posted $0.04 earnings per share. As a group, equities research analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SOFI shares. Citigroup raised their price objective on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. UBS Group lifted their price objective on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Needham & Company LLC increased their target price on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. The Goldman Sachs Group upped their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Finally, William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and a consensus price target of $12.50.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 11,181 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.72, for a total value of $142,222.32. Following the completion of the transaction, the executive vice president now directly owns 226,210 shares in the company, valued at approximately $2,877,391.20. The trade was a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the transaction, the chief technology officer now owns 655,118 shares of the company’s stock, valued at approximately $8,280,691.52. This trade represents a 9.48 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 97,905 shares of company stock valued at $1,308,075. Corporate insiders own 2.60% of the company’s stock.

About SoFi Technologies

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.